Applications of Secure Multi-Party Computation in Financial Services

The concept of Secure Multi-Party Computation (SMPC) is a cryptographic service that allows generating analysis of sensitive data related to finance under the collaboration of all stakeholders without violating the privacy of the research participants. This article shows the increasing significance of privacy protection in the contemporary financial services, where various stakeholders should comply with stringent security and regulatory standards. It discusses the main issues of scalability, computational efficiency, and working with very large datasets, and it identifies the directions of future research to make SMPC protocols more practical and efficient. The results highlight the possibility of SMPC to facilitate safe, transparent, and trustful financial transactions in an ecosystem that is becoming more digital.